Earthquake Insurance Spikes in California

Only about 10 percent of Californians had earthquake insurance, but through a concerted effort the California Earthquake Authority has seen the number of new customers rise by 90,000...

February 13, 2018

Only about 10 percent of Californians had earthquake insurance, but through a concerted effort the California Earthquake Authority (CEA) has seen the number of new customers rise by 90,000, compared to an average annual increase of 7,000 over the previous decade.

Glenn Pomeroy, CEO of the CEA, says the number of catastrophes in 2017 from mudslides and wildfires to earthquakes and hurricanes prompted more customers to obtain coverage. The CEA's more aggressive advertising and the introduction of new offerings, including lowering the minimum deductible to five percent of a home’s value from ten percent, have also helped garner new customers.